Virgin Money UK (VMUK.L, VMUK LN)
Virgin Money UK (VMUK) is a UK retail bank offering current accounts, mortgages and unsecured loans to consumers as well as banking products to SMEs. Formerly known as CYBG, it acquired Virgin Money in 2018 and is currently integrating it into the business. Over time, the heritage businesses of CYBG (Clydesdale Bank, Yorkshire Bank) will be rebranded as Virgin Money. VMUK has developed an open banking platform (iB), off which it has developed its retail banking app B, and it plans to leverage this platform further through partnerships with FinTechs. In the medium term, VMUK continues to pursue balance sheet growth and optimise its funding mix while also seeking to reduce operating expenses as it integrates Virgin Money.
|Virgin Group Holdings||13.1|